Investing
CapEx
Iron Mountain CapEx increased by 0.3% to $518.01M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 23.2%, from $674.77M to $518.01M. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 38.9% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
Metric ID:
capital_expendituresHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $150.06M | $123.39M | $192.11M | $161.05M | $169.17M | $266.58M | $278.58M | $265.91M | $334.85M | $361.54M | $376.93M | $381.15M | $396.76M | $396.07M | $617.60M | $674.77M | $556.76M | $523.86M | $516.25M | $518.01M |
| QoQ Change | — | -17.8% | +55.7% | -16.2% | +5.0% | +57.6% | +4.5% | -4.5% | +25.9% | +8.0% | +4.3% | +1.1% | +4.1% | -0.2% | +55.9% | +9.3% | -17.5% | -5.9% | -1.5% | +0.3% |
| YoY Change | — | — | — | — | +12.7% | +116.0% | +45.0% | +65.1% | +97.9% | +35.6% | +35.3% | +43.3% | +18.5% | +9.6% | +63.8% | +77.0% | +40.3% | +32.3% | -16.4% | -23.2% |
Range$123.39M – $674.77M
CAGR+29.8%
Avg YoY Growth+40.8%
Median YoY Growth+38.0%
Business Segments
| Segment | FY'21 | FY'22 | FY'23 |
|---|---|---|---|
| GLOBAL DATA CENTER BUSINESS | $422.27M | $650.53M | $946.79M |
| GLOBAL RIM BUSINESS | $368.27M | $303.34M | $391.89M |
| CORPORATE AND OTHER | $96.35M | $803.73M | $143.39M |
| Total | $611.08M | $875.38M | $1.34B |
All segment values are derived from annual filings.
CapEx at Other Companies
Frequently Asked Questions
- What is Iron Mountain's capex?
- Iron Mountain (IRM) reported capex of $518.01M in Q1 2026.
- How has Iron Mountain's capex changed year-over-year?
- Iron Mountain's capex decreased by 23.2% year-over-year, from $674.77M to $518.01M.
- What is the long-term trend for Iron Mountain's capex?
- Over 4 years (2021 to 2025), Iron Mountain's capex has grown at a 38.9% compound annual growth rate (CAGR), from $611.08M to $2.27B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.